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Larry Rogers to Become interim CEO

Paul Norris to Become Non-Executive Chairman of the Board

TRINITY, N.C., March 12 /PRNewswire-FirstCall/ -- Sealy Corporation (NYSE: ZZ) announced today that Lawrence J. "Larry" Rogers will become interim Chief Executive Officer, Paul Norris will become Non-Executive Chairman of the Board and David J. McIlquham will resign as Chairman, President, and Chief Executive Officer, effective immediately.

Mr. Rogers joined Sealy in 1979. He has been President of Sealy North America since December 2006 and has also served as President of Sealy International as well as President of Sealy of Canada. Mr. Norris is a current Sealy Board Member and former Chairman and CEO of W.R. Grace & Co. He is also a Senior Advisor at Kohlberg Kravis Roberts & Co. (KKR), Sealy's largest shareholder.

Mr. McIlquham, along with the Board of Directors, has determined that it is in the best interest of the Company to seek new leadership to achieve the Company's long-term goals and initiatives. Mr. McIlquham will pursue new opportunities and spend more time with his family.

Mr. Norris, Non-Executive Chairman of the Board stated, "Larry's institutional knowledge of our company and the industry, along with his deep customer relationships will help Sealy continue to enhance its position as the leading worldwide bedding manufacturer. His experience and relationships will be particularly important as we continue to execute on our long-term strategy."

Mr. Rogers emphasized, "The Company will maintain its focus on its strategic initiatives during the search for a permanent Chief Executive Officer. We will concentrate our efforts on execution during a crucial time for Sealy as we launch our new Posturepedic line, continue to grow our specialty bedding and international businesses and drive efficiencies across the organization."

"Dave has our sincere gratitude for his tireless work over many years, building the premier bedding company in the world over the past eighteen years, including the last six as chief executive officer," said Mr. Norris. "He helped guide the Company to meaningful revenue growth, and we now have an opportunity to build on that success by adding a new CEO to an already-strong management team. The Board has the utmost trust in this management team and is excited about the new Posturepedic rollout that has to date been so well received by retailers and consumers."

"I have been privileged to work with the talented and dedicated people of Sealy and I am proud of what we have accomplished together," Mr. McIlquham commented. "There comes a time when change is necessary, both personally and for the Company, and I will refocus my energy on my family and the communities in which we live. I leave the Company in the hands of a great management team and I remain very excited about Sealy's prospects."

The Board has commenced the search for a new CEO. Senior management will further discuss the Company's strategy and recent results on Sealy's next quarterly earnings call scheduled for April 8, 2008.

About Sealy

Sealy is the largest bedding manufacturer in the world with sales of approximately $1.7 billion in 2007. The company manufactures and markets a broad range of mattresses and foundations under the Sealy(R), Sealy Posturepedic(R), Stearns & Foster(R), and Bassett(R) brands. Sealy operates 26 plants in North America, and has the largest market share and highest consumer awareness of any bedding brand on the continent. In the United States, Sealy sells its products to 2,900 customers with more than 7,000 retail outlets. Sealy is also a leading supplier to the hospitality industry. For more information, please visit http://www.sealy.com.

This document contains forward-looking statements within the meaning of the safe harbor provisions of the Securities Litigation Reform Act of 1995. Terms such as "expect," "believe," "continue," and "grow," as well as similar comments, are forward-looking in nature. Although the Company believes its growth plans are based upon reasonable assumptions, it can give no assurances that such expectations can be attained. Factors that could cause actual results to differ materially from the Company's expectations include: general business and economic conditions, competitive factors, raw materials purchasing, and fluctuations in demand. Please refer to the Company's Securities and Exchange Commission filings for further information.

SOURCE Sealy Corporation